Update to the requirements to file notification forms in The Bahamas

Guidance for filing

The Bahamas Department of Inland Revenue has issued new guidance for filing the pre-registration DMTT Notification Forms.

Constituent entities within MNE groups that fall in scope of the Bahamas Domestic Minimum Top-up Tax Act, 2024 (DMTT Act) need to submit separate Notification Forms for fiscal year 2024 (Form DMTT-24) and fiscal year 2025 (Form DMTT-25). The new filing deadline for the 2025 Notification Form is now 30 April 2026. Constituent entities that became eligible for QDMTT in The Bahamas for fiscal years starting from 1 January 2024 must still meet the 31 March 2026 filing deadline.

To clarify, entities falling in scope of the DMTT Act for both fiscal years beginning in 2024 and 2025 will be required to file both Forms, DMTT-24 and DMTT-25.

Should you have any questions, please do not hesitate to contact us.

Overview

The Bahamas introduced the Domestic Minimum Top-Up Tax Act, 2024 in November 2024. All constituent entities in The Bahamas who are within the scope of this Act are required to file a “DMTT Notification Form” by 31 March 2026.

Subsequent to the filing of the notification form, entities will be required to register on The Bahamas’ new “One Bahamas” tax portal which is expected to open in the second quarter of 2026. The first filing and payment requirements in The Bahamas for entities who were in scope from 1 January 2024, will be due 30 June 2026 within the “One Bahamas” tax portal.

Who is required to submit a notification form?

Domestic members of a MNE Group whose consolidated financial statements have total revenues exceeding €750 million in at least two of the four tax years preceding the tested year. This includes all entities incorporated in The Bahamas and permanent establishments in The Bahamas of the MNE Group.

Contents of the notification

The notification must be submitted using the prescribed form on the DIR’s website. The form requires the following to be included:

-            Details of the local entity or permanent establishment;

-            Details of the MNE Group including annual revenue;

-            Information surrounding the MNE Group’s Country by Country Reporting status;

-            Details of the Ultimate Parent Entity including total revenue;

-            Details of the reporting entity.

How can we assist you?

The deadline for notification is rapidly approaching, and prompt action is necessary to ensure all data required for filing is readily accessible. Our team is available to support your notification needs. Please contact our tax department below for further information.